Answer:
E) Trademark Dilution Act
Explanation:
The Trademark Dilution Act was passed by Congress in 1995 and it's sole purpose is to protect famous trademarks from similar imitations or copycats.
Long before this law was passed, famous trademarks like Coke had to sue imitators that tried to use similar names to market "alternative" products. For example, in 1920 Coca Cola (owner of Coke) sued Koke for trademark infringement and won.
The Trademark Dilution Act prohibits using trademarks and logos that are similar to famous trademarks because it dilutes their reputation and goodwill.
Answer:
the amount of the impairment loss is $50,000
Explanation:
The computation of the amount of the impairment loss is shown below:
Impairment loss = Purchase price of trade marks - Estimated fair value
= $70,000 - $20,000
= $50,000
Hence, the amount of the impairment loss is $50,000
The same should be considered and relevant
Answer:
Cost of goods sold.
Explanation:
Equity method in accounting is the process by which profits and losses of a company are allocated on the basis of investments made in it. Take for example a parent company has a 40% stake in a subsidiary. When the subsidiary makes profit or loss the parent company recieves a share.
The investor is usually referred to as an associate or affiliate and usually own 20-50% of voting shares in the company. Therefore the equity method is used and not the cost method.
To account for unrecognised intra-entity profit a credit will be passed to cost of goods sold.
The term by which individuals and businesses choose between the different use of available resources is called <u>allocating </u>and it is due to the concept of <u>scarcity</u>.
<h3>
What is Scarcity?</h3>
According to economics, Scarcity signifies that the demand for a product or service exceeds the supply of that product or service.
It is the underlying truth of existence that there is only a finite number of human and nonhuman resources for each economic product.
Therefore, Individuals and business corporations must choose between several uses for the available resources they have from the idea of <u>allocating </u>resources and due to the concept of <u>scarcity.</u>
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Learn more about scarcity here:
brainly.com/question/1088553
Every organization has its own rules. The statement that best describes the Federal Deposit Insurance Corporation's is that The FDIC has issued policy statements that address auditor independence in various contexts.
- Independence in auditing needs integrity and an objective way in all audit process. It also requires the auditor to perform his or her task freely and in a focused way.
The Independence of the internal auditor is simply known as the freedom from parties or people whose interests can be harmed by the outcomes of an audit.
See full question below
Which statement best describes an element of the Federal Deposit Insurance Corporation's (FDIC) requirements for auditor independence?
FDIC independence requirements incorporate requirements for attorneys and actuaries.
FDIC independence requirements mirror the AICPA and DOL independence rules.
The FDIC has issued policy statements that address auditor independence in various contexts.
The FDIC has adopted regulations that incorporate IESBA independence rules.
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